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2019 ITR filing reminders

Summer is here! As the school break starts, everyone is excited to plan where to spend their holidays. But before gearing up for the vacation, corporate taxpayers adopting calendar taxable year and individual taxpayers can’t think of enjoying summer yet until the April 15 annual income tax return (ITR) deadline passes.

As the deadline draws closer, here are some reminders for the ITR filing:

1. BE MINDFUL OF THE APRIL 15 DEADLINE
As expected, there have already been news reports saying that the Bureau of Internal Revenue (BIR) will not extend the upcoming April 15 income tax deadline. The BIR has been warning taxpayers to file their income tax returns earlier to avoid penalties for late filing. The penalties for late filing include a 25% surcharge of the tax due plus 12% interest per annum (from the payment deadline until the amount is fully paid), and a corresponding compromise penalty, on top of the income tax due.

So, for the taxpayers, April 15 this year is a crucial day that should not be missed.

2. USE THE CORRECT VERSION OF ITR
As of writing, all new/revised versions of annual ITRs (BIR Form No. 1700 for individuals earning purely compensation income, BIR Form No. 1701 for individuals under graduated income tax rates availing of itemized deductions including mixed income earners, BIR Form No. 1701A for individuals earning income purely from business/profession under graduated income tax rates availing of Optional Standard Deduction or those who opted to avail of the 8% flat income tax rate, and BIR Forms No. 1702-RT/EX/MX for corporations, partnerships and non-individuals exempt from tax and subject to regular tax rate, respectively) have been released by the BIR.

For the individual ITRs, the revised version of BIR Form No. 1701 and the new BIR Form No. 1701A are already available in eBIR Forms package v7.4.1, but are not yet available in the electronic Filing and Payment System (eFPS). Thus, the BIR advised eFPS filers to file using the eBIRForm facility and pay manually through AABs. BIR form No. 1700, on the other hand, is not yet available in the eBIRForms facility. Hence, this shall be filed and paid manually.

For corporate ITRs, all new versions of the ITRs are not yet available in the eFPS and eBIRForms facility. Thus, the BIR advised the eFPS and eBIRForm filers to use the existing/old version available in the eFPS and eBIRForms package. However, taxpayers filing 1702-MX who opted for optional standard deduction as their method of deduction shall use the manual return and pay manually.

For the detailed guidelines on the filing and payment of annual ITRs, taxpayers may refer to Revenue Memorandum Circulars No. 41-2019, 37-2019, 19-2019, and 17-2019.

3. FILE AT THE PROPER VENUE
Under the rules, wrong venue filing or filing of tax returns at a different Revenue District Office (RDO) than where they are registered, is subject to a penalty of P1,000 per return and a 25% surcharge of the tax due to be paid. The P1,000 penalty may be nominal, but the 25% surcharge could mean millions to some taxpayers depending on the amount of tax due.

Hence, taxpayers, especially individuals, are recommended to verify first with the BIR and check which RDO they are registered at before proceeding to the nearest Authorized Agent Bank (AAB) or RDO to file their annual ITR.

Wrong venue filing also includes a situation wherein taxpayers, who are mandatorily required to file their returns through eFPS or eBIRForms, erroneously file their tax returns manually.

4. KEEP ABREAST OF BIR ADVISORIES
At this time of the ITR filing season, it is not uncommon for taxpayers to encounter downtime or traffic in the eFPS facility due to network congestion.

There have been certain instances in the past wherein a taxpayer tried to file an ITR on the morning of April 15 only to find himself in front of the computer the whole day and until midnight without successfully filing the ITR. This is why taxpayers are advised to file their tax returns early to avoid this kind of inconvenience.

Nonetheless, taxpayers should be alert about BIR advisories, wherein the BIR makes announcements about work-around procedures in case of problems in the eFPS facility.

5. COMPUTE YOUR INCOME TAX DUE CAREFULLY
When computing for the income tax due, taxpayers should always practice due diligence. Even though a taxpayer can amend an ITR to correct a mistake, that mistake may incur large cost depending on its significance. This is because in the event that the tax payable per amended ITR is higher than what is remitted in the filed original ITR, a 25% surcharge, 12% interest per annum, and compromise penalty shall be imposed based on the additional tax to be paid per amended return. Better be safe than sorry.

With just a few days left before the deadline, I hope everyone can successfully file their ITRs on time and have a meaningful Holy Week with no worries. Fingers-crossed!

Let’s Talk Tax is a weekly newspaper column of P&A Grant Thornton that aims to keep the public informed of various developments in taxation. This article is not intended to be a substitute for competent professional advice.

 

Juvy de Jesus is a manager from the Tax Advisory & Compliance division of P&A Grant Thornton, the Philippine member firm of Grant Thornton International Ltd. For comments and inquiries, please email

pagrantthornton@ph.gt.com.

Responsible Mining: Planet, People, Profit, Policy

Mining is highly extractive. From the vantage point of environmental protection, “responsible mining” may seem like an oxymoron given the obvious toll of mining on natural resources, especially arable land, water and forests. The nature of this industry thus goes against the principle of preserving and cultivating land and nature for present and future generations.

There are those who argue, however, that the environment can still be protected despite the extractive nature of mining. There are also those who claim that the environment is not the only thing that needs protecting. One also has to protect the ancestral domain of the indigenous peoples where mining sites are often located, jobs of mine workers, and profit for mining companies. One also has to consider the overall potential of mining as a driver of economic development.

Above-mentioned values and interests, however, often run in opposition to one another and the debates around mining center on the idea of trade-offs: protection of ancestral domains or economic development? environmental protection or job creation? profit or environmental protection? jobs in mining or no jobs at all?

In this piece, I present recent efforts to bring to the table concerns and interests that are mining-related. I argue that these efforts are necessary and must be sustained. For development to be genuinely “inclusive,” development strategies and policies must be contested and negotiated by all stakeholders. Everyone affected must have a seat at the negotiating table.

MULTI-STAKEHOLDER DIALOGUE
While there are no easy answers to the question of trade-offs, processes for consensus-building have recently been undertaken by several stakeholders, under the platform of “responsible mining.” Two dialogues were held in the latter part of 2018 while a third dialogue was held in March 2019.

The document “Discussion Paper on Mining: Consolidated Notes from the 1st and 2nd Roundtable Discussions on Responsible Mining held in Astoria Plaza Hotel on November 27, 2018 and December 11, 2018” reveals that the RTDs were precipitated by at least two developments: the signing of the Chamber of Mines of the Philippines (COMP) of “a declaration to pursue responsible practices in November 2017,” in response to “President Duterte’s challenge to promote responsible mining,” and the invitation of Bantay Kita to the Mines and Geosciences Bureau (MGB) of the Department of Environment and Natural Resources (DENR), the CoMP and the Philippine Extractive Industry Transparency Initiative (PH-EITI) “to undertake a series of consultations, in a safe space and respectful atmosphere, through a round table discussion (RTD) with key stakeholders in the hope of finding a common understanding and mutually acceptable articulation of what ‘responsible mining’ is.” Bantay Kita is “a coalition of civil society organizations advocating for transparency and accountability in the extractive industry.”

The first RTD focused on large-scale mining operations while the second one discussed small-scale mining. The results of these two dialogues were then presented during a third RTD held at the Ateneo de Manila University on March 17, 2019. I had the privilege to help organize and participate in that third dialogue.

mining

DETERMINING SOCIAL LIMITS TO DEVELOPMENT
The first two dialogues resulted in an initial definition of responsible mining as “one which contributes significantly to economic growth while at the same time ensuring that the impacts to the environment are remediated toward sustained productivity of the land after mining and the host and neighboring communities are developed into self-reliant communities beyond the life of the mine.” This definition was said to be “founded on the threefold elements of economic viability, technical feasibility and social acceptability.”

Moreover, the first two dialogues resulted in a claim that “for mining to be responsible, it has to meet the fundamental tenets of economic growth, environmental protection and social development or loosely translated as ‘profit, planet and people,’ all with the end goal of sustainable development. The three ‘Ps’ are to be treated as equals, but with ‘planet’ as the primus inter pares (first among equals), signifying that primordial consideration is to be given to mining’s responsibility to protect the environment.” A fourth “P” — policy — has also been deemed necessary because mining “should be legally compliant.”

In the third RTD, a representative of civil society, lawyer Gerthie Mayo-Anda of the Environmental Legal Assistance Center, emphasized the need “not just for a law but a robust policy framework that integrates rights and privileges, taxes, penalties, tree-cutting permits, resilience cost and benefit, wealth accounting and valuation, island ecosystem and biodiversity.” Attorney Mayo-Anda’s intervention was followed by a discussion on the need for a new law since the existing law RA 7942 or the Mining Act of 1995 is seemingly silent on many important issues.

Representatives of the mining industry, meanwhile, emphasized the need for “certainty” when it comes to mining policy. According to one representative, mining is a business enterprise and therefore predictability of operations is crucial. When policies change too often or are not implemented evenly, operations of mining companies suffer.

For my part, I argued that social limits must be taken into consideration and not just market limits. I also claimed that “planet” and “people” were, in fact, social limits and that it was commendable that the first two dialogues had raised these limits. I observed a glaring omission though: labor. The impact of mining on indigenous peoples and affected communities had been raised, and rightfully so, but mining workers were not considered. I also reminded the group that DOLE’s list of the top 20 violators of the contractualization law included two mining companies and that this should be a cause for concern for all stakeholders.

GOVERNMENT AS MAIN DUTY-BEARER
The third roundtable discussion also resulted in several discussions about the important role that government plays in mediating the various interests in the mining industry, and, ultimately, in locating the mining industry in a larger development strategy. Industry and civil society were agreed that government is the main duty-bearer especially when it comes to ensuring that policies are agreed upon democratically and implemented effectively.

Hopefully, the DENR, particularly the MGB, will step up to the task. It would also help if the PH-EITI were strengthened as a multi-stakeholder mechanism. The EITI is the “global standard to promote the open and accountable management of oil, gas and mineral resources.” The Philippines joined EITI in 2013, with the Department of Finance (DoF) as the lead institution and MGB, COMP and Bantay Kita as members. Since its establishment, Philippine EITI has produced five reports disclosing payments of and receipts from mining companies. Apart from these disclosures, PH-EITI has been important as a vehicle by which the various stakeholders — government, industry, civil society — are able to know and respect each other by working together in a sustained manner. I don’t think the recent dialogues on “responsible mining” would have been possible without the PH-EITI.

It is thus very important that in the coming elections, voters choose candidates who agree that policy should always be negotiated and are willing to support genuine multi-stakeholder dialogue on mining policy. For consensus-building to be sustained, there must be “responsible-mining champions” in government, in the executive and legislative branches, and at the national and local levels.

Let us vote for candidates who believe that planet, people, and profit must be protected — in that order.

 

Carmel V. Abao is a faculty member of the Political Science Department of the Ateneo de Manila University. She teaches political theory and international political economy.

CG Code for PLCs: Principles-based and market-disciplining in character

The CG Code for Publicly Listed Companies (PLCs) formally adopts the “comply or explain approach,” which combines voluntary compliance with mandatory disclosure, and which it defines as “Companies do not have to comply with the Code, but they must state in their annual corporate governance (CG) reports whether they comply with the Code provisions, identify any areas of non-compliance, and explain the reasons for non-compliance.” The Code therefore does not contain any penalty clause at all, and through its “comply or explain approach” relies upon the “pressure of the market” to goad PLCs to adopt its governance principles and recommended best practices. One of the outstanding features therefore of the CG Code for PLCs is its underlying belief that in the “disciplining power of the market,” thus:

• The Boards of Directors and the Management of PLCs, not the SEC, are in a better position to evolve, develop and implement within their particular industry and company culture and structures the CG principles embodied in the Code;

• That “market forces,” i.e., the negative reaction of the public investors who may dump the company’s shares when they see a grievous violation of CG principles and recommendations under the Code, have a more coercive effect on the Boards and Management of PLCs on the manner of implementation of the CG principles embodied in the Code.

The principles-based and market-disciplining features of the CG Code for PLCs provide for the following advantageous features:

(a) Principles-based governance reforms, as contrasted from “rules-based” reforms, are able to capture within its coverage all possible scenarios or situations that would confront the Boards of Directors and Management of PLCs with very little danger of loopholes that can be exploited.

(b) A principles-based system of CG has a greater tendency to change the hearts and minds of Boards and Management since in determining whether to act one way or the other in a corporate transaction, they really need to understand the meaning and coverage of the principle to determine whether the corporate act would be consistent with or contravene the covering principle.

(c) Market-disciplining feature of the CG reform would likely have a more personal effect on the exercise of business judgment of directors and senior officers since they may in fact lose their jobs against an investing public that does not approve of their non-compliance of what are recommended to be CG best-practices.

On the other hand, the principles-based and market-disciplining features of the CG Code for PLCs have a few, yet important, downsides.

Firstly, such features operate effectively only in a securities market where the ownership of PLCs are widely dispersed, and there is not a group of stockholders who control the equity and thereby be able to control the majority of the Board of Directors. In widely held public companies, the members of the Board are elected basically on the merits of their agenda presented to the voting investors at large; and are able to retain their positions in the Board over the years by being responsive to the best interests of the investing public.

This is not the case in the Philippine publicly held companies sector, where most of the listed companies are really family-owned and controlled companies, and where the public float is rather minimal. In effect, the market-disciplining force of the investing public would not be as effective a disciplining force versus the majority and controlling stockholders, who as the biggest block of equity holders are expected to run the company to maximize their returns, through the majority members of the Boards whom they are able to elect into office.

Secondly, the market-disciplining feature would be more effective where the Boards and Management of most of the PLCs are professional managers and accountable to a large investing public. The Board composition in our PLC sector, even with the system of independent directors introduced by the Securities Regulation Code, is still majority-constituted, with directors elected by the controlling family or group, and often the Chairman as head of the Board and/or CEO, as the head of Management, comes from the family or group that holds the controlling equity in the company. In effect, the market-disciplining force of the investing public (who constitute the minority stockholders) would not have a robust “coercive influence” against the Board, the majority of whom effectively represents the interest of the controlling family or group.

Thirdly, even in situations where the market-disciplining features have a strong coercive effect on the Board and Management, the legal effect is that only the stockholders of a PLC would have a real voice in goading their Boards and Management to listen to them, and thereby effectively place all other stakeholders in a nominal position to influence actions and actuations of the Boards and Management.

These varying enforcement rules between the Original and Revised CG Codes, on the one hand, and those of the CG Code for PLCs, on the other hand, are what we shall discuss vis-à-vis the mandatory governance principles provided under the Corporation Code and the Securities Regulations Code.

3. Composition of the Board of Directors of Publicly-Held Companies (PHC)

a. Size of the Board

Both the original CG Code and the Revised CG Code repeat the requirement of the Corporation Code that the Board of Directors of every PHC shall be composed of at least five (5) but not more than fifteen (15) members elected by the shareholders from among themselves, and shall have a term of one (1) year until their successors are elected and qualified.

On the other hand, the CG Code for PLCs very sensibly does not even attempt to repeat what are obviously mandatory provisions of the Corporation Code.

In this sense, the SEC CG Codes adhere to the “CG” principle under the Corporation Code that the “optimum size” of the Board of Directors for stock and for-profit corporations should not be less than five (5), but not more than fifteen (15), members.

b. Independent Directors (IDs) in PHC Boards

While both the original and Revised CG Codes adhere to the requirement under the Securities Regulation Code (SRC) that at least two (2) of the members of the Board of Directors should be IDs or such IDs shall constitute at least 20% of the Board membership, whichever is lesser; the CG Code for PLC recommends that “the Board should have at least three [3] independent directors, or such number as to constitute at least one-third of the members of the Board, whichever is higher.”

The CG Code for PLCs explains its recommendation for a higher number of IDs than that required under the SRC, in the following manner:

Explanation
The presence of IDs in the Board is to ensure the exercise of independent judgment on corporate affairs and proper oversight of managerial performance, including prevention of conflict of interests and balancing of competing demands of the corporation. There is increasing global recognition that more IDs in the Board lead to more objective decision-making, particularly in conflict of interest situations. In addition, experts have recognized that there are varying opinions on the optimal number of IDs in the board. However, the ideal number ranges from one-third to a substantial majority.

The merits of the rationale offered under the CG Code for PLCs for the recommended higher number of IDs, “to ensure the exercise of independent judgment on corporate affairs and proper oversight of managerial performance,” can better be appreciated from the discussions in an earlier submitted paper entitled “Revisiting the Efficacy of the Oversight Functions of Independent Directors for PLCs.”

Obviously, the “comply or explain approach” of the CG Code for PLC does not make the recommendation for a higher number of IDs contravene the mandatory provisions of the Securities Regulation Code. In fact, it makes it rather easy for the PLC Boards to explain why they cannot comply with the particular recommendation for a higher number of IDs in that it is higher than the statutorily required number of IDs, and that the only way the Board can implement the same is to amend the articles of incorporation to increase the official number of IDs. As discussed previously, in our PLC sector which is dominated by family controlled companies, the “market backlash” that may come from the minority investing public who react adversely to the refusal of the Board to adopt a higher number of IDs, cannot usually be expected to counter the primary investing interest of the majority or controlling family group who find it more important to have the Board within the majority control of their representatives.

The more important question that should be addressed is “Whether the SEC could, through the exercise of its quasi-legislative powers, make it mandatory for publicly-held companies to adopt a higher number of IDs than the number provided for under the Securities Regulation Code?” The answer would be in the negative, for the current provisions of the Securities Regulation Code on the minimum number of IDs in PHC Boards represents the current Legislative policy on the matter, and that SEC’s attempt to impose a higher minimum number of IDs would extend that policy beyond what the Legislature has set out in the SRC. Otherwise, SEC would by quasi-legislation be extending the State’s exercise of coercive police power over the proprietary rights of the majority or controlling stockholders to vote their own nominees to the Board of Directors.

On the other hand, when publicly listed companies on their own follow the recommendation under the CG Code for PLCs to increase the number of IDs above that provided for in the SRC, that would not constitute a breach of the State policy on IDs as found in the SRC, but rather a voluntary move on the part of the majority or controlling stockholders of the PLC to further erode their proprietary rights to vote for their own nominees who do not otherwise fall within the definition and qualification of IDs. In other words, the more dispersed the ownership of our PLCs become, the more effective would be the “comply or explain approach” of the CG Code for PLCs when it comes to IDs.

The intention of the CG Code for PLCs is to goad the Boards of PLCs, in the face of what may be perceived as a “market approbation,” to undertake the necessary legal process to introduce a higher number of IDs into their Board. In this sense, the recommendatory step taken by the CG Code for PLCs under its “comply or explain approach” is much better than the lame copying by the original and Revised CG Codes of just mimicking the provisions of the SRC.

The article reflects the personal opinion of the author and does not reflect the official stand of the Management Association of the Philippines or the MAP.

 

Cesar L. Villanueva is Chair of the MAP Corporate Governance Committee, the Founding Partner of the Villanueva Gabionza & Dy Law Offices, and the former Chair of the Governance Commission for GOCCs (GCG).

cvillanueva@vgslaw.com

map@map.org.ph

http://map.org.ph

The benefits of anonymity

By Tony Samson

PR PRACTITIONERS traditionally hired to raise the profile of clients to move them from zero to hero (especially in an election year) may also be employed to do the opposite. They work to cast a high-profile individual who is extremely wealthy or politically powerful, or both, into relative obscurity. The effort to keep somebody out of the news cycle (no news is good news) can entail “spiking” or killing negative stories before they’re posted.

Still, high-profile incidents are sometimes witnessed by too many people to escape comment and trolling in social media. Celebrities are in the unfortunate position of being in the spotlight even when just being noisy in a bar or not picking up their dogs’ poo in a mall. Can a photo and an upload in social media be far behind?

Even pedestrian events like arriving at a party with a different partner are given undue attention. Such mundane activities, or even less quotidian ones, when involving anonymous people do not rate even a dinner conversation. Anonymity has its benefits, mainly being ignored and left alone. “Anonymous,” after all, derives from the Greek word, meaning “no name.”

Scandals are associated almost exclusively with celebrities. Would a list of drug users be of interest to the public if the names are unrecognizable? Is the sex video of a barber taking liberties with a masseuse going to go viral? (It depends on his haircut.)

What advice can one give a celebrity in a messy separation involving time inside a cupboard and occasional violence (taking back gift of dangling earrings while still worn)? Video recordings of embarrassing moments make the flight to anonymity challenging, especially when the snippet has already gone viral. Denials just make things worse.

The best practice on anonymity belong to witness protection programs for whistle blowers who expose powerful criminals. Here are agents who can hide witnesses behind new identities and even some plastic surgery, after they testify against the mafia, bent on giving them cement boots for underwater attire.

Short of a WPP, here are some steps to get out of the news cycle and get back to being ignored.

Stop giving media interviews. Having a party and discussing with reporters the alleged warm words from an absent and erstwhile partner/torturer does not douse media frenzy. Refusing to go to talk shows or give any comments for attribution and refraining from sending text messages to media help a scandal lose steam.

Travel abroad and be away for two years. This disappearing act (where did he go?) is an extreme form of media unavailability. The shelf life of a story is getting shorter anyway if not given more details. The media pack moves on to the next scandal to leave the previous one in peace.

Prohibit friends from defending you in public. (I haven’t really seen her lately. But knowing her, she may just have been playing some harmless parlor game like tongue hockey. Maybe she just had marbles in her mouth.) These friends tend to love the spotlight — I feel her pain.

It’s not that difficult to move from fame to no-name, from mags to ditches, from spotlight to no light. Even without any conscious effort, a fall from grace into obscurity happens in the natural course of events. The land of former celebrities or those with “ex” problems is full of vaguely recognizable individuals. (Isn’t that what’s-her-name?)

Celebrities at the height of their popularity often lament their state — I hope one day I can just go to the beach like everybody else and walk around without being mobbed by fans for selfies. Such a wish is sure to be granted in time, as new celebrities crowd out the old.

Still, even anonymous characters can hit the headlines with a big enough scandal. In 1995, a rogue trader, only 28 years old bet on futures of the Nikkei index and lost big time to bankrupt his employer, Barings bank. He spent six and a half years in a Singapore jail, and wrote a book on how the illegal trades were pulled off. After the brief stint as a celebrity, he is back to being anonymous.

In the new world of digital sharing, the effort to be anonymous takes some doing. Thankfully, the attention span of netizens is shrinking, making celebrity status, and the scandals that go with it, fleeting and temporary. In time, everybody becomes anonymous.

 

Tony Samson is Chairman and CEO, TOUCH xda

ar.samson@yahoo.com

Hotshots extend ‘Clasico’ quarters to rubber match

By Michael Angelo S. Murillo
Senior Reporter

THE “Manila Clasico” quarterfinal series between the Magnolia Hotshots Pambansang Manok and Barangay Ginebra San Miguel Kings is set for a one-game decider after the former took Game Two of the best-of-three affair, 106-77, on Monday at the Smart Araneta Coliseum.

Fended off in the opener last Saturday, the Hotshots returned the favor with a dominant performance in the second game to force a rubber match on Wednesday.

Ian Sangalang and Jio Jalalon jolted the Magnolia attack with 21 and 17 points, respectively, to help their team get the win that got them back in the series.

Magnolia started the game on fire, building an 11-0 lead in the first four minutes, which it would use to eventually hold a 25-18 advantage after the opening canto.

In the second quarter, the Kings tried to make up some ground but the Hotshots were staunch in their stand not to allow their opponents to gain much headway.

The count was at 39-34, and Magnolia on top, with five minutes to go before Messrs. Jalalon and Sangalang and the Hotshots moved to create further separation at the half, 51-38.

The third quarter saw the Hotshots blowing open the game.

With contributions coming from different directions, Magnolia outscored Barangay Ginebra, 15-6, in the first six minutes, to stretch its lead to 24 points, 68-44.

Scottie Thompson and Kevin Ferrer tried to provide some answers for the Kings but the Hotshots kept them at a bare minimum.

The Magnolia lead hit the 30-point plateau, 78-48, at the 2:57 mark.

When the quarter smoke cleared, it was an 81-54 separation for Magnolia.

With control of the match on their side, the Hotshots went for the early closeout.

The score was at 87-56 with still 8:18 to go and from there Magnolia cruised to the series-tying win.

“We just made an effort to play defense and we executed well,” said Mr. Jalalon on what did for them in Game Two.

“Everybody contributed to this win, not only the players but also the coaches and the people on the bench,” he added.

Mr. Jalalon also had six assists and five steals to merit player of the game honors.

Game Three of the Manila Clasico is set for Wednesday at 7 p.m. also at the Big Dome.

Warriors earn top seed in West

LOS ANGELES — The Golden State Warriors celebrated their final regular-season game in Oracle Arena with a third-quarter explosion Sunday night, producing a 131-104 win over the Los Angeles Clippers in Oakland, Calif., that clinched top seeding throughout the Western Conference playoffs.

The win was Golden State’s fifth in a row and 30th of the season at home. The Warriors’ first-round opponent, which will be the eighth seed in the West, has yet to be determined. The playoffs begin next Saturday.

The Clippers’ third straight loss dropped them to 47-34 and closer to a first-round matchup with the Warriors. The Clippers are battling Oklahoma City (47-33) and San Antonio (47-34), both of which won Sunday, for the sixth, seventh and eighth playoff spots in the West.

Curry finished with a game-high 27 points for the Warriors, who improved their all-time regular-season record at Oracle Arena to 1,166-770. Like the Warriors, all five Clippers starters scored in double figures, led by Landry Shamet with 17. All but two of Shamet’s points came on 5-for-6 3-point shooting.

TRAIL BLAZERS 115, NUGGETS 108
Damian Lillard scored 30 points, and Al-Farouq Aminu added a season-high 23 points and 11 rebounds as Portland rallied for a victory over visiting Denver.

The Trail Blazers closed the game on a 17-3 run to register their ninth win in the last 11 games. CJ McCollum made his return to the Portland lineup after missing 10 games with a knee injury. McCollum collected nine points, six rebounds and six assists in 25 minutes.

Gary Harris scored 18 points to lead Denver, which won the season series with Portland 3-1. The Nuggets played without center Nikola Jokic, forward Paul Millsap and guard Jamal Murray, all given the night off for rest. They need to win their final two games, or get one win and a Rockets loss in their finale at the Thunder, to secure the West’s No. 2 seed.

BUCKS 115, HAWKS 107
Giannis Antetokounmpo scored 30 points with nine rebounds, and Khris Middleton added 21 as Milwaukee recorded its first 60-victory season since 1980-81 in beating visiting Atlanta.

Antetokounmpo, who is now six points away from 2,000 for the second consecutive season, was back on the court for the Eastern Conference champions after missing Saturday’s game against the Brooklyn Nets because of a sore left calf.

Alex Len scored a career-high 33 points for the Hawks, who were playing without starters John Collins (ankle) and Trae Young (wrist). DeAndre’ Bembry added 13 points for Atlanta, which already has been eliminated from playoff contention.

NETS 108, PACERS 96
D’Angelo Russell scored 20 points, and Brooklyn clinched its first playoff berth since 2015 by leading most of the way in a win over host Indiana.

The Nets clinched at least the seventh seed after the Detroit Pistons lost to the Charlotte Hornets earlier Sunday, and could have secured the No. 6 seed if Orlando had lost its game at Boston later on Sunday. Russell shot 7-for-15 and made a 3-pointer for the 60th straight game.

The Pacers lost for the ninth time in 12 games and officially are locked into the fifth seed. Even if Indiana and Boston finish tied, the Celtics own the head-to-head tiebreaker. Domantas Sabonis led Indiana with 17 points and Thaddeus Young — who was a starting forward in 2015 for the Nets — added 16.

MAGIC 116, CELTICS 108
Orlando clinched its first postseason berth in seven years with a road win against Boston, ended the Magic’s longest playoff drought in franchise history

Terrence Ross scored 14 of his 26 points in the fourth quarter, and Nikola Vucevic had 25 points and 12 rebounds for the Magic, who were perfect (22-for-22) from the free-throw line. The Magic are tied with Brooklyn for the sixth seed in the Eastern Conference with one game left in the regular season.

Kyrie Irving led the Celtics with 23 points, and Al Horford added 18.

RAPTORS 117, HEAT 109
Danny Green scored 21 points — including seven in overtime — as Toronto defeated visiting Miami, sweeping the four-game season series.

Miami’s playoff hopes were severely damaged by the loss. The Heat are now one game behind the Pistons — and tied with the Hornets — in the race for the eighth and final playoff spot in the East.

Pascal Siakam added 23 points and grabbed 10 rebounds, and Norman Powell also had 23 points off the bench for the Raptors. Dwyane Wade scored 21 points for the Heat, who have lost four in a row.

HORNETS 104, PISTONS 91
Kemba Walker scored 31 points, Frank Kaminsky added a season-high 24 and Charlotte kept its playoff hopes alive in beating host Detroit for its third straight win, clinching a four-game sweep of the season series.

The Hornets (38-42) moved into ninth place in the Eastern Conference playoff race and are one game behind the No. 8 Pistons (39-41). Charlotte holds the tiebreaker edge over both the Heat and the Pistons.

Walker added eight rebounds and seven assists and the Hornets also got 17 points from Jeremy Lamb. Detroit has now lost four straight. — Reuters

Mateo wins MAPPA Predator-Wilde Blu 8-Ball Cup

FRANCIS MATEO pulled off a come-from-behind 4-3 victory over Geona Gregorio in the finals of the Makati Pool Players Association (MAPPA) Predator-Wilde Blu 8-Ball Cup Sunday night was held at the AMF-Puyat Superbowl and Billiards Center, Makati Cinema Square in Makati City.

The Dasmariñas City, Cavite bet Mateo, fought back from 1-3 down by winning three straight racks to frustrate Gregorio and complete the stirring victory.

“I did not lose hope despite falling 1-3 because of the winner’s break format. I knew it can turn around the situation,” said Mateo.

Police Staff Sergeant Eric Bayhon, lone Filipino representative in the 2019 Chengdu, China World Police and Fire Games had something to say about the final match.

The race-to-4, 8-ball final match was organized by Makati Pool Players Association headed by it’s president Arvin Arceo and held in cooperation with Bilyarista.com, Pigmentation, Dubshot, Dr. Gab Bermudez, Nelson Salvanera and supported by DMC Entertainment and Production management boss Jesse Gonzales Cambosa Sr. and long-time billiards patron sportsman/businessman Aristeo “Putch” Puyat who is also the chairman of the Billiards Sports Confederation of the Philippines (BSCP).

In the battle for third and fourth, Paul McCarthy bested Jun Cornista, 4-2.

In the semifinals, Mateo toppled Cornista, 4-3, to arrange a finals date with Gregorio. Gregorio, made it to the finals by defeating McCarthy in the semis, 3-2.

Mateo pocketed the P40,000 top prize and took home the MAPPA trophy while Gregorio went home the runner-up prize of P20,000 plus trophy. McCarthy, on the other hand received P10,000 while Cornista didn’t go home empty-handed satisfied at P6,000.

Makati Pool Players Association headed by it’s president Arvin Arceo, DMC Entertainment and Production management boss Jesse Gonzales Cambosa Sr. and world renowned blogger Leslie “ Anito Kid” Mapugay led the closing rites that includes Mateo and Gregorio. — Marlon Bernardino

World-leading cliff divers looking forward to Philippine debut of Red Bull series

LATER this week, 24 of the top cliff divers in the world will descend on the Philippines to take part in the first leg of the Red Bull Cliff Diving World Series in El Nido, Palawan.

Making its Philippine debut, the first leg will take place at the Small and Big Lagoon in Miniloc Island in El Nido. It is the first of what is a seven-stop global tour.

Among those competing are Orlando Duque of Colombia, Rhiannan Iffland and Xantheia Pennisi of Australia, who all expressed excitement over competing in the Philippines for the first time in the Red Bull series.

All three took time to meet members of the Philippine national diving team on April 4, where they got to share some tips on diving and thoughts on the upcoming event in Palawan.

“I’m looking forward to taking in the atmosphere and really enjoying the hospitality from the people of Palawan because it’s not my first time diving here in El Nido. Two years ago I was on holidays, and I remember taking a boat cruise across the lagoons and thought wow this is just so picturesque, it’s the perfect place to high dive and to cliff dive,” said Ms. Iffland, a three-time Red Bull series winner in the women’s division when asked by BusinessWorld for her thoughts on the first leg.

Adding, “When I saw that the Philippines was on the schedule for this year, I went ‘Yoohoo!’ I don’t really set much of a game plan, and it’s one of the best parts of the sport. It always feels fresh, and that makes it an all the more rewarding ending.”

For Mr. Duque, a two-time Guinness World Record holder and nine-time Red Bull series winner, he does not see unfamiliarity to be much of an issue for him as he takes the cliffs of Palawan for the first time.

“We’re kinda used to having to adapt in different conditions, which is probably one of the key elements of the sport. You have to adapt to everything pretty quick and I think that’s what makes the sport/competition that exciting,” he said in a separate interview.

Of Filipino descent, Ms. Pennisi, for her part, said to have the series pass through the Philippines gives it more significance for her.

“Now that the competition is here in the Philippines, my whole family is going to be watching me and I’m just really excited to be the first diver of Filipino descent to be in this competition. It’s going to be my first time jumping off a cliff surface, so the game plan is to play it safe, and enjoy the location because I’ve never been to El Nido before,” she said.

The three divers went on to say that Filipinos should watch the Red Bull series as they can expect top-level action in a highly conducive and fitting setting.

“[Filipino should watch] Simply because it’s the perfect location to showcase our sport, and there’s going to be a lot of excitement, and 24 of the best cliff divers in the world is going to be there in El Nido, Palawan, to show off their skills,” said Ms. Iffland.

After the Philippines, the Red Bull Cliff Diving World Series will have stops in Dublin, Ireland (May 12); Polignano a Mare, Italy (June 2); Sao Miguel, Azores, Portugal (June 22); Beirut, Lebanon (July 14); Mostar, Bosnia and Herzegovina (Aug. 24); and Bilbao, Spain (Sept. 14).

Viewers in the Philippines may also watch the full event, along with the remaining six stops of the 2019 World Series on S+A and iWant Sports (iwant.ph), 5PLUS and 5plus.com.ph, FOX Sports, FOX Sports GO, FOX+ app, and online at http://www.foxsports.ph. — Michael Angelo S. Murillo

PRURide PH 2019 kicks off with successful Criterium event

WHAT is being positioned as a bigger staging of PRURide PH in 2019 got off to a good start with the successful holding of its first leg Criterium in Filinvest, Alabang, on Sunday.

Part of a wider edition this year of the much-anticipated annual cycling event, which would include a UCI 2.2 Stage Race in Subic next month, the Criterium, fondly referred to as Crit, gathered cyclists of different shapes and sizes to test their skills in the day-long event.

Described as a short action-packed circuit race that requires a series of strategically timed sprints and sharp turns from one lap to another, PRURide PH 2019 Crit offered high-octane categories that were arranged by bicycle types such as fixed gear, mountain bike and road bike, which were further broken down to several sub-categories.

Participants rode at top speed but instead of competing for a set distance, they raced on a point system as accumulated from intermediate sprints and the final lap sprint.

Apart from said races, last weekend’s cycling event also featured events for kids, virtual races, zumba and massage sessions and capped off by a concert boasting of some of the top bands in the land.

Pru Life UK, organizer of the event, said it was a conscious effort on its part to shore up PRURide PH 2019’s offering to communicate better its push to promote cycling and its benefits, something it said it was able to achieve.

“We are happy with this event. It has been successful and I really appreciate the reception it has gotten. Despite the blistering heat the bikers are here,” said Allan Tumbaga, Pru Life UK SVP and Chief Marketing Officer, in an interview with BusinessWorld on the sidelines of the PRURide PH 2019 event.

“It is much bigger. We made it more inclusive. We want to promote cycling and we want more people to know it,” he added.

The Crit on Sunday would be followed by the PRURide UCI 2.2 Stage Race on May 24 to 26 in Subic, Zambales, as well as a Masters Race and fun ride Gran Fondo 30, 60 and 100 kilometers on May 26.

The Union Cycliste Internationale (UCI)accredited stage race, which is a three-stage race that will take the riders onto different roads around Bataan and up to the peak of the historic Mt. Samat, will allow professional Filipino riders and foreign international teams to collect UCI points to qualify for entry into the 2020 Olympics in Tokyo, Japan.

Mr. Tumbaga highlighted that cycling enthusiasts should expect more come the stage race and other categories set for May.

“We are happy how the event has evolved in just three years. In Prudential we don’t do small things but we do big things. We will continue improving not only for the second leg but in the coming years as well,” the Pru Life UK official said. — Michael Angelo S. Murillo

Artistry

European Individual Chess Championship
Skopje, Former YUG Rep of Macedonia
March 18-29, 2019

Final Standings

1-2. GM Vladislav Artemiev RUS 2736, GM Nils Grandelius SWE 2694, 8.5/11

3-11. GM Kacper Piorun POL 2631, GM Maxim Rodshtein ISR 2673, GM Ferenc Berkes HUN 2666, GM David Anton Guijarro ESP 2643, GM Liviu Dieter Nisipeanu GER 2670, GM Sergei Movsesian ARM 2627, GM Niclas Huschenbeth GER 2594, GM Grigoriy Oparin RUS 2613, GM Eltaj Safarli AZE 2662, 8.0/11

12-26. GM Johan Sebastian Christiansen NOR 2539, GM Aleksej Aleksandrov BLR 2574, GM Ivan Cheparinov GEO 2683, IM Paulius Pultinevicius LTU 2439, GM Andrey Esipenko RUS 2603, GM Nikita Petrov RUS 2591, GM Boris Gelfand ISR 2655, GM Benjamin Gledura HUN 2630, GM Alexandr Predke RUS 2611, GM Aleksandr Rakhmanov RUS 2629, GM Mateusz Bartel POL 2609, GM Daniil Dubov RUS 2703, GM Igor Lysyj RUS 2635, GM Ruslan Ponomariov UKR 2667, GM Constantin Lupulescu ROU 2611, 7.5/11

27-35. GM Evgeny Alekseev RUS 2640, GM Vadim Zvjaginsev RUS 2642, GM Markus Ragger AUT 2696, GM Yuriy Kuzobov UKR 2644, GM Aleksey Dreev RUS 2662, GM Daniel Fridman GER 2633, GM Francisco Vallejo Pons ESP 2698, GM Haik Martirosyan ARM 2616, GM Andrei Volokitin UKR 2635, 7.5/11

Total Participants: 361 players

Tiebreaks: (1) Points scored, (2) Opponents’ rating minus the lowest, (3) Buchholz without the lowest scoring opponent, (4) Buchholz, (5) Direct encounter, (6) Rating

Time Control: 90 minutes for the first 40 moves, then 30 minutes play-to-finish with 30 seconds added to your clock after every move starting move 1

The 20th European Individual Championship took place from 18-29 March this year in Skopje, organized by the government of North Macedonia. The prize fund is €100,000 (about P5.9 million), with €20,000 (about P1.18 million) for first prize. Aside from the prize money the first 22 placers will qualify for the next World Cup, scheduled to take place Nov. 4-30 in Khanty-Mansiysk, Russia. The World Cup, aside from its huge money prizes (even the losers go home with around P250,000 each), will qualify its top finishers to the Candidates’ tournament, the final step in determining the challenger for the world title.

I went into detail describing the financial incentives above to impress upon our readers how important it is to qualify for the World Cup.

In the list above you can see the final standings after 11 rounds of furious battles. There was a huge logjam at 7.5/11 which extended from the 12th to 35th places. GMs Nils Grandelius, David Anton, Eltaj Safarli and Ivan Cheparinov had previously qualified for the World Cup from the European Championship last year, so that frees up 4 additional slots and everybody up to 26th place goes to Khanty-Mansiysk. I have cut-off the table at the 26th place so that you can see who qualified and who did not.

Vladislav Artemiev has been on an upswing lately. Last December 2018 he became European Blitz Champion and from there proceeded to the island of Gibraltar to win the Gibraltar Masters, one of the strongest open tournaments in the world. He had his 21st birthday on March 5, the first day of the World Team Championship and celebrated that by playing an important role in Russia’s gold medal.

Four days later he was in Skopje opening his bid to be the next European Champion. The journalists were already calling him “the new Vlad,” destined to take over the top dog status of “Big Vlad” Kramnik who recently announced his retirement from competitive chess.

Artemiev did not disappoint. He started out with 5/6, which included wins against recent Aeroflot winner Kaido Kulaots, Lucas van Foreest and the highly-regarded Russian up-and-comer David Paravyan, which should have been good enough for the lead, but for the cutthroat nature of the competition it was not enough — both GMs Maxim Rodshtein (Israel) and Kacper Piorun (Poland, and by the way he is a double GM — he is a world champion problem solver) had 5.5/6, they only allowed one draw each.

Going at that pace Artemiev could have settled for draws in the last six rounds and still have qualified, but that was not enough — he wanted to become European Champion.

In round 8 he defeated one of the co-leaders, the Czech GM Zbynek Hracek, with a nice attack. This important victory took him into the joint lead on 6.5/8 with three rounds to go, level with Rodshtein, Piorun, Nils Grandelius and 17-year old Andrey Esipenko. An additional significance of this win is that the additional rating points gained allowed “the new Vlad” to overtake “the old Vlad” Kramnik in the world rating list.

Artemiev, Vladislav (2736) — Hracek, Zbynek (2578) [B14]
European Individual Chess Championship
Skopje (8.3), 26.03.2019

1.c4 c5 2.Nf3 Nc6 3.Nc3 Nf6 4.e3 e6 5.d4 d5 6.cxd5 exd5 7.Bb5 cxd4 8.exd4

With White Artemiev likes to play symmetrical positions and use White’s advantage of the first move to pressure Black’s position, at first imperceptibly, but then slowly building it up. This game is a perfect example.

8…Be7 9.0–0 0–0 10.Ne5 Bd7 11.Bg5 Rc8 12.Re1 Re8 13.Rc1 a6 14.Bxc6 Bxc6 15.Qf3 Qd6

With perfect hindsight we can say that Black should have played 15…h6! while he can.

16.h3 Bd8

GM Daniel Fernandez pointed out here that Black is already in a dangerous position. After 16…h6? 17.Bf4 Qb4 18.Rcd1 Qxb2 White already wins with 19.Bxh6! gxh6 20.Rd3! White has the very dangerous threat of Qf4 followed by Rg3+

17.Re3 Rf8 18.Rce1 Qb4

Black’s queen should not have left its position on d6.

19.Qf5 Ra8 20.Rd1

White already has 20.Bh6! gxh6 21.Qf4! with a win. A possible continuation is 21…Ne8 (21…Qd6? is too late. 22.Rg3+ Kh8 23.Nxf7+ wins the queen; 21…Be8 22.a3 Qb6 23.Rg3+ Kh8 24.Qxh6 Rg8 25.Nxd5 Qe6 26.Nxf6 Qxf6 27.Rxg8+ Kxg8 28.Ng6! Black’s bishop on e8 is free) 22.Qxh6 Bf6 23.Nxc6 bxc6 24.Rg3+ Bg7 25.Rxe8 Qxd4 26.Rxa8 Rxa8 27.Qxc6 Rd8 28.Qxa6 this endgame is easy. Artemiev probably saw this possibility but preferred a simpler solution.

20…Ne8

[20…Qxb2? 21.Rb1 Qa3 22.Nxc6 bxc6 23.Ne4! (discovered attack on the black queen) 23…Qxa2 24.Nxf6+ Bxf6 25.Bxf6 gxf6 26.Rg3+ Kh8 27.Qxf6#]

21.Bf4 Nf6 22.Rg3 Kh8 23.Rdd3 Be8 24.a3 Qxb2 <D>

POSITION AFTER 24…QXB2

25.Rxg7! Kxg7 26.Rg3+ Kh8 27.Nxd5 Nxd5 28.Bh6 Bf6

[28…Rg8 29.Rxg8+ Kxg8 30.Qg4+ Kh8 31.Qg7#]

29.Qxf6+! 1–0

After 29.Qxf6+ mate is forced: 29…Nxf6 30.Bg7+ Kg8 31.Bxf6#

Artemiev was really serious about “the advantage of having the first move.” In fact, over the entire tournament he had White 5 times and won all of them! With Black he had one win and five draws. I am going to show you an endgame win by Artemiev, but before that let us recall this famous game:

Colle,Edgard — O’Hanlon, John [D05]
Nice Masters Nice (9), 21.02.1930

1.d4 d5 2.Nf3 Nf6 3.e3 c5 4.c3 e6 5.Bd3 Bd6 6.Nbd2 Nbd7 7.0–0 0–0 8.Re1 Re8 9.e4 dxe4 10.Nxe4 Nxe4 11.Bxe4 cxd4 12.Bxh7+ Kxh7 13.Ng5+ Kg6 14.h4 Rh8 15.Rxe6+ Nf6 16.h5+ Kh6 17.Rxd6 Qa5 18.Nxf7+ Kh7 19.Ng5+ Kg8 20.Qb3+ 1–0

White’s opening set-up is what is known as the Colle System. When he combines that with fianchettoing his bishop on b2 it is the “Colle-Zukertort System.” With that brief introduction let us get into it.

Artemiev, Vladislav (2736) — Van Foreest, Lucas (2515) [E14]
20th ch-EUR Indiv 2019 Skopje MKD (4.4), 21.03.2019

1.d4 Nf6 2.Nf3 d5 3.e3 e6 4.Bd3 b6 5.0–0 Bb7 6.Nbd2 Nbd7 7.b3 Ne4 8.c4 Bd6 9.Bb2 0–0

The tabiya, or battle formation, you see on the board is also basically a symmetrical one. When both sides are trying to get in a kingside attack it is important who strikes first.

10.cxd5 exd5 11.Ne5 Qe7

I cannot resist showing you Darwin Laylo’s inspiring win vs. the Russian GM Pavel Smirnov from the 2015 Subic Bay International: 11…Re8 12.f4 Ndf6 13.Ndf3 Qe7 14.Rc1 c5 15.Qe1 Rac8 16.Qh4 cxd4 17.exd4 Rxc1 18.Bxc1 Bc8 19.Ng5 Rf8 20.Be3 h6 21.Nxe4 dxe4 22.Bc4 Be6 23.Bxe6 Qxe6 24.f5 Qd5 25.Ng4 Be7 26.Nxh6+! gxh6 27.Bxh6 Qxd4+ 28.Kh1 Nd5 29.Qg4+ Kh7 30.f6! Bxf6 31.Bxf8 Ne3 32.Qh3+ Kg8 33.Re1 Nc2 34.Qg4+ Kxf8 35.Qc8+ Kg7 36.Qxc2 Darwin has a decisive advantage. Laylo,D (2471)-Smirnov,P (2617) Olongapo City 2015 1–0 48.

12.Ndf3 Nb8 13.Be2 f6 14.Nd3 a5

White’s attack has been rebuffed and now it is Black’s turn to advance on the queenside.

15.Re1 a4 16.Rc1 a3 17.Ba1 Na6 18.Bf1 b5

Perhaps 18…Rac8 going for …c7–c5 is a better plan

19.Bc3 Nxc3 20.Rxc3 Nb4 21.Qb1 Bc8 22.Nc5 Bg4 23.Nd2 c6 24.Be2 Bxe2 25.Rxe2

Black now has a weakness on c6 which White pounces upon.

25…Qf7 26.Nf3 Bxc5 27.Rxc5 Rfe8 28.Qd1 Re6 29.Qd2 Na6 30.Rc1 Qe7 31.Ne1 Nb4 32.Rc5 Na6 33.Rc1 Nb4 34.Nd3 Nxd3 35.Qxd3 g6 36.Rec2 Ra6 37.g3 f5 38.Rc5 h5 39.b4 h4 40.R1c3 Ra4?

Black swaps his weak c6–pawn for its counterpart on b4. This is a mistake as you will soon see.

41.Rxc6 Rxc6 42.Rxc6 Kg7 43.Qc2 Qxb4 44.Kg2!

Eliminating the threat of …h4–h3 with possible back-rank mate-themed tactics.

44…Ra7 45.gxh4 Qe7 46.Qc5 Qe4+ 47.f3 Qe7 48.Qxe7+ Rxe7 49.Kf2 b4 50.Rb6 Rc7 51.Rxb4 Rc2+ 52.Kg3 Rxa2 53.Ra4 Ra1 54.Kf4 a2 55.Ra6 Kf7 56.Ke5 Re1 57.Ra7+ Ke8 58.Rxa2 Rxe3+ 59.Kf6!

[59.Kxd5 Kf7! makes it harder for White]

59…Rxf3 60.Kxg6 Rf4 61.h5 Rg4+ 62.Kf6 Rh4 63.Ra8+ Kd7 64.Kg5 Rxh2 65.h6 Kc6 66.Kg6 Rg2+ 67.Kxf5 Rf2+ 68.Kg4 Rh2 69.Ra3! 1–0

Beautiful! Black cannot take the pawn because of 69…Rxh6 70.Ra6+, and White’s coming Rh3 will queen his pawn.

This last move is the reason why I entitled this column “Artistry.”

 

Bobby Ang is a founding member of the National Chess Federation of the Philippines (NCFP) and its first Executive Director. A Certified Public Accountant (CPA), he taught accounting in the University of Santo Tomas (UST) for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies.

bobby@cpamd.net

Playoff tickets

It’s the last week of the regular season, and the top of the pecking order couldn’t be clearer. The Bucks are proud owners of the best record in the National Basketball Association, while the Warriors have clinched the Number One spot in the West. Yesterday’s runaway triumph over the Clippers ensured the standing of the defending champions, holders of a tiebreaker against the second-running Nuggets. For those still angling to claim playoff seedings, however, the outcomes of the games still to be played out remain relevant.

Take the case of the Heat, who could well have been on the way to an outright postseason berth with a victory. Instead, they lost in overtime off an unfortunate turn of events at the close of their match yesterday. With the score tied and 10 ticks left in regulation, referee Eric Lewis blew his whistle even though Dion Waiters, designated to inbound, didn’t have the ball yet. The sound naturally had the other players moving into position — too early, as things turned out. The result was a broken set that saw Dwyane Wade, who was supposed to take the last shot, unable to even be part of it.

Just like the Hornets, the Heat remain in contention for a playoff ticket, but just barely. Even if they wind up winning their last two outings, their fate isn’t entirely in their hands. The Pistons are ahead of them in the standings, and would need to lose against the Grizzlies and Knicks in order for them to squeak through. As head coach Erik Spoelstra admitted in the aftermath, “we’ll need some help. The only thing we control is what we do. We’ve got to dust this one off, get back to Miami, and win the next game.”

Not coincidentally, that next game will be Wade’s last at the American Airlines Arena. Even as his retirement tour has invariably been a wellspring of good vibes, its next stop figures to be a bittersweet spectacle that may yet overshadow the set-to against the Sixers. The best outcome, needless to say, is a victory after the fitting send-off — with him making the winning basket as a bonus. The hope is that he’ll have the opportunity to do so, and that no referee will blow an inadvertent whistle to scuttle it prematurely.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

PSEi climbs to 7,900 to track Wall Street’s gain

By Arra B. Francia, Reporter

THE MAIN INDEX breached the 7,900 level on Monday, tracking Wall Street’s gains last Friday.

The 30-company Philippine Stock Exchange index (PSEi) climbed 0.53% or 42.45 points to close at 7,915.63. The broader all- shares index likewise rose 0.41% or 19.97 points to end at 4,866.96.

“Several factors may have influenced the index’s move today, namely: US indices continuing to close in the green last Friday night, Trump calling on the Fed to cut rates, and some late reaction to March’s below-expectation inflation figure (3.3% vs. 3.5% consensus),” Papa Securities Corp. Sales Associate Gabriel Jose F. Perez said in an e-mail on Monday.

The PSEi tracked the positive performance seen in Wall Street last Friday. The Dow Jones Industrial Average went up 0.15% or 40.36 points to 26,424.99. The S&P 500 index rallied 0.46% or 13.35 points to 2,892.74, while the Nasdaq Composite index advanced 0.59% or 46.91 points to 7,938.69.

This came after US President Donald J. Trump’s plea to the Federal Reserve last Friday to cut interest rates in order to boost the economy.

Meanwhile, Asian markets ended mixed as they digested better-than-expected jobs data in the United States alongside reports on progress between the US-China trade war. US government data released last Friday showed that it added 196,000 jobs in March, beating economists’ forecast of 175,000 jobs.

Despite this, Japan’s Nikkei 225 slipped 0.21% or 45.85 points to 21,761.65. The Shanghai Composite went down 0.05% or 1.76 points to 3,244.81, while the Kospi Index eked out gains of 0.04% or 0.99 points to 2,210.60.

Eagle Equities, Inc. Research Head Christopher John Mangun attributed Asian markets’ performance to fears of a “tough US earnings season,” while noting that the PSEi continues to move sideways.

“The main index continues sideways within our range. Investors are still on the sidelines and may remain there due to the shortened trading week,” Mr. Mangun said in an e-mail.

Four sectoral indices moved to positive territory, led by services which jumped 1.41% or 22.50 points to 1,613.97. Industrials gained 0.64% or 75.45 points to 11,816.43; holding firms advanced 0.51% or 40.10 points to 7,772.96; while property added 0.44% or 17.91 points to 4,092.98.

In contrast, mining and oil dropped 0.24% or 18.65 points to 7,715.64, while financials dipped 0.13% or 2.37 points to 1,739.80.

Some 679.44 million issues valued at P5.40 billion switched hands on Monday, higher than the P5.04-billion turnover seen last Friday.

Advancers slightly outpaced decliners, 107 to 91, while 50 names were unchanged.

Foreign investors remained in a net buying position at P496.59 million, up from the P455.77 million in net purchases seen in the previous session.

Financial markets are closed today in commemoration of Araw ng Kagitingan (Day of Valor).

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